KARACHI: Escalating tension between Pakistan and India has caused anxiety in the business community of the country\u2019s industrial and commercial hub Karachi.
\nThey wished a better sense prevailed on both sides and instead of fanning war hysteria, leaders showed restraint and resolve to settle current conflict and outstanding issues through negotiations.
\nThe worsening relations between the two countries, however, have not impacted the bilateral trading activities so far.
\nKorangi Association of Trade and Industry President Zahid Saeed said the business community stands by the nation and the armed forces. But the role of the government in building a good image of Pakistan has been weak, he added.
\n\u201cPartially our economic woes relate to adverse global perception of Pakistan. The government has not been able do much to change that,\u201d Mr Saeed said referring to India\u2019s propaganda.
\n\u201cDespite multiple problems in India, it has managed a positive image to a point where every country wants to invest there. Its huge consumer base adds to the attraction,\u201d he added. He said it is high time the leaders gave serious attention to the issue.
\nIn case the situation between the two nations worsen, he said, Pakistan stands to lose more because of India\u2019s effective media management.
\nMr Saeed thought that the government was more concerned about the internal opposition than countering the build-up across the border.
\nFederal B Area Association of Trade and Industry President Abdullah Abid blamed India for creating a war-like situation every few years.
\n\u201cI think our leaders are not presenting Pakistan\u2019s case properly,\u201d he said.
\n\u201cOur leaders talk hard but lack capacity or the will to walk their talk,\u201d he said, adding that the wars of future will be won on the economic front.
\nHe ruled out armed conflict but said in war of words the world will side with India. He feared that the situation may worsen if trading partners under Indian influence trim their economic interaction with Pakistan.
\n\u201cThey might refrain from signing free and preferential trade agreements with Pakistan,\u201d Mr Abid said.
\nNorth Karachi Association of Trade and Industry President Syed Iktida Ali said he expects mounting tension between India and Pakistan will have a bleak impact on business activities. He said the war-like situation has emerged at a time when law and order along with the overall level of confidence in the economy was improving.
\nFresh investments by foreign and local businessmen will halt if the tense situation persists between the two South Asian countries, Mr Ali said.
\nAssociation of Pakistan Motorcycle Assemblers Chairman Mohammad Sabir Shaikh said India will lose more than Pakistan in the case of a prolonged conflict because India has a larger industrial and trading base than Pakistan.
\nA leading automobile assembler, who asked not to be named, said the current business environment is normal so far. But in the case of rising tension, he expects \u201csevere damage\u201d to both economies.<\/p>\n","protected":false},"excerpt":{"rendered":"
KARACHI: Escalating tension between Pakistan and India has caused anxiety in the business community of the country\u2019s industrial and commercial hub Karachi. They wished a better sense prevailed on both sides and instead of fanning war hysteria, leaders showed restraint and resolve to settle current conflict and outstanding issues through negotiations. The worsening relations between […]<\/p>\n","protected":false},"author":1,"featured_media":910,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":{"0":"post-3792","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business"},"yoast_head":"\n